Citi Research analyst Christopher Danely opened a downside 90-day catalyst watch on shares of Advanced Micro Devices Inc. AMD Monday, warning of potential risks to key markets. “We expect downside to estimates driven by the correction in the data center/gaming/embedded markets,” which are expected to make up about 84% of sales for the calendar year, he wrote. Danely has a neutral rating on AMD’s stock and said he sees possible downside to consensus expectations amid “strong expectations driven by the MI 300 chip ramp.” Meanwhile, the company’s market-share gains in servers could be offset by a general data-center slowdown. AMD shares were off 1.6% shortly after Monday’s open.
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